A Medicare Advantage Plan, also known as Medicare Part C or MA Plan, is a type of health plan offered by private companies approved by Medicare. Medicare pays these companies to cover the Medicare benefits of the enrollees. If you join a Medicare Advantage Plan, the plan will provide all of your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage. Most Medicare Advantage Plans include Medicare prescription drug coverage (Part D) and offer extra benefits such as dental care, eyeglasses, or wellness programs. The major advantage of a public Part C Medicare Advantage plan is that each features an out-of-pocket annual spend limit of the beneficiarys choosing, typically ranging from $1500 to about $8000 in 2023. However, Medicare Advantage plans restrict the number of providers and hospitals that beneficiaries can visit, and in most cases, you can only use doctors who are in the plan’s network. Medicare Advantage plans are generally required to offer at least one plan that covers the Part D drug benefit. Plan benefits can change from year to year, so it is important to understand how a plan works before you join.